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Bitcoins for Small Businesses

February 20, 2015

A small business that provides goods or services and accepts credit cards should also consider accepting Bitcoins. In case you haven’t heard Bitcoins are the world’s fastest growing currency. Getting in now means you’re a cutting-edge innovator, ahead of the curve, and ahead of your competition.

Bitcoins are an open source virtual currency. They are transferred through a computer or smartphone without any financial institution acting as intermediary. The fees are a fraction of what you pay for accepting credit cards and the transactions are instantaneous and non-reversible, no fraud.

Two companies in particular are making it very easy for small businesses to start accepting bitcoins.

Bitpay bills itself as “the world leader in Bitcoin business solutions.” Not only do they provide both brick & mortar and mobile solutions, they also provide plugins extensions for popular shopping carts and billing systems. Notable clients include Wordpress.com and Gyft.com

Coinbase is both a Bitcoin wallet and a merchant platform. Whether your buying or selling Bitcoins or wishing to accept Bitcoins at your business, Coinbase is committed to making the user experience as easy as possible. Notable clients include Reddit and Okcupid.

With both companies you can keep the bitcoins, transfer them or direct deposit (as dollars) into your bank account.